The administrative five was also imposed on Rodeler Ltd as the AFM found the firm directed Rodeler NL in the violation. The AFM highlighted that such violations can result in a fine of up to €2 million. However, in its decision to impose a €15,000 fine, AFM took into consideration the limited financial strength of…
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24Options's operation was also banned by other regulators. Rodeler was also banned in the UK by the Financial Conduct Authority in June 2020 for using fake endorsements from celebrities on social media and webpages to attract consumers. The French regulator AMF banned Rodeler Limited from providing services to both new and existing clients in France…
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France financial regulator Autorité des Marchés Financiers (AMF) has announced that it is waiving the prohibition against Binary Options, Forex and CFDs broker 24option.com on providing services on French territory. 24option parent company Rodeler Limited, which is licensed by CySEC in Cyprus, received the France ban last August, after the AMF determined that 24option was providing…
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The FMA noted a recent warning by the Australian Securities and Investment Commission (ASIC) against conducting business with binary options broker 24option. The FMA recommended exercising caution before dealing with 24Option and noted warning by another regulator - the French AMF. 24Option is operating at website https://www.24option.com/eu/binary-cfd/ and is not registered to offer financial services…
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Shares of binary options platform provider TechFinancials Inc (LON:TECH) plunged by more than 30% on Tuesday, after the company disclosed that it was going to lose its largest client, binary options broker 24option.com. The decline triggered two successive 5-minute Price Monitoring Extension periods in London Stock Exchange trading in the stock. A Price Monitoring Extension is activated…
Read moreIn a week in which Forex Industry News at LeapRate was dominated by extremely weak August FX volume reports, we were pleased to bring our readers a number of exclusive stories about Playtech PLC (LON:PTEC) and its plans for its binary options unit, the shutdown of brokers SkyFX and Capital Option, the new structure of…
Read moreLeapRate has learned that Retail Forex and Binary Options brokerage group Rodeler Limited has been rejected for a professional securities market participant license by the Bank of Russia. The license, had it been granted, would have allowed Rodeler to operate a retail forex dealer in Russian, serving Russian clients. Rodeler Limited, based in Cyprus and operated out…
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The service provider Rodeler Limited (regulated by the Cypriot financial regulatory agency) offers access to binary options, particularly Forex, and does not comply with certain professional obligations. The AMF has therefore decided to ban the company from providing services to both new and existing clients in France. This decision takes effect on August 1, 2016. The…
Read moreASIC has warned of a dramatic increase in the extent of unlicensed conduct by retail OTC derivative providers seeking to expand their market with new customers for their complex and risky products such as binary options. ASIC has raised its concerns with more than 40 unlicensed providers. The majority are binary option issuers but also…
Read moreWe said that this was coming. Following a wave of reviews of some of the largest Cyprus-based regulated forex and binary options brokers undertaken by financial regulator CySEC over the past few months, we reported in late November on a number of fairly large (by Cyprus standards) > €100,000 fines and settlements issued to a…
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